The Foundation for Interwallet Operability (FIO) has announced the game-changing integration of leading wallets and non-custodial service providers, ShapeShift, Coinomi, ChangeNOW and Mycelium. The use of FIO protocol will now be extended to over a million more cryptocurrency users and enables people to participate in the blockchain ecosystem without needing complex public addresses.

Research conducted by FIO identified that of those people who had used cryptocurrencies for transactions, 55% had at least one or multiple concerns regarding the security of their transfer. The most common issue for concern was the accuracy of complex public addresses where 35% of respondents cited concerns and 24% expressed worry that the public address for their transaction could be manipulated, overall 17% of users felt a general level of anxiety regarding a sent transaction.

Luke Stokes, Managing Director, FIO, said: The FIO protocol aims to make cryptocurrency transactions as easy and reliable as online fiat transactions currently are. The future of finance should be a joyful experience for the mainstream public. Although interest in cryptocurrencies has grown enormously, legitimate concerns regarding security, ease of use and accountability continue to prevent mass adoption. As an asset class, cryptocurrencies are viewed as complex, insecure and owned by elites, FIO was designed to change this. 

The integration of FIO by Mycelium will only be on the testnet and go live in November, for ShapeShift, Coinomi and ChangeNOW the integration is live. The integration of FIO by ChangeNOW ensures exchanging crypto is easier and more secure as there is no need to copy blockchain addresses and worry about problems recognising different ledgers as they are linked to a human-readable FIO name. FIO’s crypto domain solutions ensure all transactions between users are private, encrypted, traceable and easy to remember for third parties.